“Queensland wins in a way, through the strong expansion of [liquefied natural gas] production over the next five years. On the other hand, Queensland is also facing the brunt of the biggest declines of investment.

“The Queensland economy is going to face a shock over the next five years as it deals with that.”

I’m reasonably confident Queensland will cope well with the shock, particularly given there is growing evidence of a recovery in the broader Queensland economy, based on encouraging data on employment, retail trade and building approvals released in the last couple of weeks (see for example the Queensland Treasury’s labour force information brief from last week).